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Questions and Answers
What is the main characteristic of a service business?
What is the main characteristic of a service business?
- It produces a finished product.
- It provides a service for which it charges a fee. (correct)
- It buys and sells raw materials.
- It sells goods to wholesalers.
What is the purpose of a wholesaler in the supply chain?
What is the purpose of a wholesaler in the supply chain?
- To provide a service to customers.
- To sell goods directly to the consumer.
- To manufacture goods from raw materials.
- To buy in bulk from manufacturers and sell to retailers. (correct)
What is the term used to describe the income received by a service business?
What is the term used to describe the income received by a service business?
- Selling price
- Cost price
- Fee income (correct)
- Mark-up
What is the role of a manufacturer in the supply chain?
What is the role of a manufacturer in the supply chain?
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What is the term used to describe the price at which a retailer sells a product to a customer?
What is the term used to describe the price at which a retailer sells a product to a customer?
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What is the characteristic that distinguishes wholesalers from retailers?
What is the characteristic that distinguishes wholesalers from retailers?
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